November 21, 2016

How Can you Save Money by Using your Credit Card?

Reading the title alone, makes you raise your eyebrow. Seriously? How can you save money by using your credit card? I know that some people dislike credit cards because it may lead them to temptation but for me, I like having a credit card because I don’t need to bring a lot of cash. It is very useful if you have emergencies and no enough funds. And there are also perks if you have credit card. No credit card yet? Read my Credit Card Tips here.If you have a credit card, read my personal tips on how can you save money.

1. Waive your Annual Fee Annual fee is not cheap so as much as possible I try to maintain one card only so less temptation and less annual fee. Every year, we call our credit card company to waive our annual fee, which is always granted. But time came that they don’t want to waive our annual fee, they only offered 50% which we accepted. But because of that, we decided to apply in other credit card companies and they always waive our annual fee. So we stopped using our old credit cards and we even called them to cancel the cards but they are offering now free annual fee, just don’t cancel the card. Weird noh? 2. If possible, always use your credit cardAs much as possible I always use my credit card because I can earn....A. Points - points that I can use to redeem products. I was able to redeem stand fan using my points. B. Cash Rebates - yes, cash rebates. You can earn a certain percentage when you use your cards in supermarket, bills payment and more. We use our points to pay our bill. Read: Citi Cashback CardC. Miles - if you love to travel, earn more miles by using your credit card. Transfer these miles to your preferred airline, in our case we transfer it to Mabuhay Miles (Philippine Airlines). 3. Save some centavosIf you will notice whenever we buy stuff or pay meals, we don’t get EXACT CHANGE. For example, I ate in one restaurant and my bill is P689.11, I gave them P1000 and I only received P310, I lost the P0.89 centavos. I understand if the cashier gave me P310.75 but she didn’t. I know it is just centavos but if it will happen every time I eat and buy stuff, those centavos can add to my savings. 4. Earn some pesos In buying appliances or furniture, always ask if there are discounts if you will pay in cash. If there are no discounts, take advantage the installment plan so you can earn some pesos. How? Several years ago, I bought my laptop in installment basis, I have the money to pay the laptop in cash but I chose the installment plan. I only withdraw the amount that I need for the installment every month, in that way, my money is still earning interest in my savings account.5. PromoBe updated in all the credit card promos. In the past, we were able to get free Starbucks beverage, free meals and Caltex gas rebate by just using our card. Sometimes free entrance fee in travel expo. 6. Discount Nowadays, there are so many discounts that you can avail because your credit card companies have different partners that you can check. There are hotels, restaurants and airlines discounts that you can take advantage.Several years ago we bought gas range and the Service Staff informed us that if we will buy it using our card and avail the installment promo, we can get additional 2% discount. Here are my personal tips and hope this helps. Feel free to share your personal tips.

Note: Do not use your credit card if you do not have the money to pay your due. Be careful in using it to avoid the hackers.Read: My Credit Card was Hacked

There are advantages to having a credit card, according to a financial coach, and he said it's because you can easily track where your money goes. We can't wait to have our credit card restored. We had it cancelled until we've completed payments. I still have to study the benefits, for example, Mabuhay Miles. Honestly, I have to figure out how to maximise the benefits. Gusto ko sana, if card, card all the way. So it's easier to budget. I agree with losing coins. yes na yes! Minsan di naman talaga sinosoli ng kahera.

My mindset before was that having a credit card is scary. But when I am already working and earning my own money, and that I already knew how disciplined I am when it comes to spending money, I applied for a credit card and fortunately got approved. It was on the right timing pa nga, kasi nabuntis ako that time. So I was able to use my card in purchasing stuff like baby items and appliances. Right now, I only use it when I do the grocery and for any home related expenses. And oh, for Uber and GrabCar rides din. It's a convenience for me, rather than a burden. My mindset is that - this credit card is for family use only and not for shopping sprees and luxuries. Haha! Andas of today, kaka-waive lang ulit ng annual membership fee ko! I am so happy. :D

I've been on and off with on whether to get a credit card or not. I get so afraid na baka ma tempt ako, just like many CC users. I want to be like you and my friend who are able to maximize the use of credit cards at hindi naging dahilan para mabaon sa utang.

It is really tempting to use the credit card especially there are so many online shopping sites now. But you can set your credit limit, in our case pag tinataasan kami ng credit card company ng limit, we will call para babaan sa limit na alam namin na yun lang naman need namin.

Super yes ako dito sis. We used to have 4 CCs. Grabe kapag due date na ng payment, waley na. Nasshort kami kaya naman we just maintained 1 CC now and we do all your tips above. And yes we can save using our credit card.